Perfect Banking Company Balance Sheet Format

The balance sheet consists of total 12 schedules.

Banking company balance sheet format. There is a Company Balance Sheet Format for business purposes and a Personal Balance Sheet Format to find out your personal net worth. The other type of balance sheet is report form in which only one column is present which is specified for assets liabilities and equities. From the following particulars prepare Bank Reconciliation statement for Ms XYZ and company as at 31 st December 2018.

The revised formats are presented below. The balance sheet used to sometimes be shown in a horizontal format instead of the vertical format shown above. The companies Act specifies the format set out in Part I -of Schedule VI to the Companies Act 1956 that every company have to follow for preparing the balance-sheet and Profit Loss.

Common and preferred shares. Format of the balance sheet There are two formats of presenting assets liabilities and owners equity in the balance sheet account format and report format. Schedule 13 Schedule 14 Schedule 15 and Schedule 16 respectively.

By using the Vyapars balance sheet formats you can enter the records of your fixed assets that your business owns list up all the liabilities in any formand thereby devise the net worth of your company. The volume of business of a bank is included in its balance sheet for both assets lending and liabilities customer deposits or other financial instruments. Balance Sheet for banks is different from other sectors and companies.

The first one is account form in which two columns are present which are assigned for liabilities and equities respectively. The third schedule of section 29 gives forms A for the balance sheet and Form B for Profit and loss account. Unlike the previous form the present one is devoid of details the latter being shown in the schedules.

The balance-sheet and Profit Loss account of a banking company should be prepared in a form set out in the third schedule of BR Act. Format of Balance Sheet of a Banking Company Preparation of Balance Sheet The Balance sheet of a banking company is to be prepared in Form A given in third schedule to the Act. Balance sheet format is categorized in two types.